Guideline Value for Jayalakshmi Street

Jayalakshmi Street guideline value

The current guideline value of Jayalakshmi Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Jayalakshmi Street has changed

The guideline value for Jayalakshmi Street has undergone several revisions over the years. In 2003, the value was Rs 554 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 81%. The value then saw a dramatic increase to Rs 3,000 per sq.ft in 2012, reflecting a growth of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 496%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Jayalakshmi Street.

• Jayalakshmi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Javvadhu Hussain Street: Rs 2,160 per sq.ft (2024)
• Jagath Avenue 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayalakshmi Street?

The Sub Registrar Office that covers Jayalakshmi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration.

When registering a property, the guideline value helps determine the official value of the property, which can affect the total costs involved in the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jayalakshmi Street?

The current guideline value of Jayalakshmi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 496% over the years.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in Jayalakshmi Street?

For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

What is the land classification for Jayalakshmi Street?

Jayalakshmi Street is classified as Residential Class I Type - II according to the guideline value register.